OKB Token Surges 30% Within The Week Ahead Of The New OKBChain Plan

OKB token touched its all-time high amid increasing hype about its future new OKBchain launch planning.

The OKB token was initially launched by the OKX crypto exchange in 2017 via an initial coin offering (ICO), where the exchange successfully raised $100 million in funds. Initially, the OKX exchange released this token on the Ethereum network (ERC-20) but later launched its native blockchain network “OKBchain”. Holding the numbers of OKB tokens on the OKX crypto exchange allows the OKX crypto traders to get discounts on their trading fees.

On 16 Feb 2023, OKX’s founder, Mingxing “Star” Xu, took to Twitter to share the happiness that the OKB token hit an all-time high of $47.2 and also confirmed that backed engineers are working to launch a new blockchain network for this token and that Blockchain network will be independent of old OKBchain network.

If we study the OKB token price graph precisely then we will find that the increment in the price of this token took place more rapidly after the OKX founder’s tweet.

The current OKB token trade price is $52.32 & this trade price is 30% high over the last 7 days of trade price.

Bull run sentiment amid US crypto crackdown

In the last 10 days of time period, the United States Securities and Exchange Commission (SEC) initiated multiple enforcement actions against the crypto companies e.g $30 million fine on the Kraken crypto exchange over crypto staking services, & Wells notice to a stablecoin company Paxos over BUSD stablecoin offerings.
Despite all such regulatory pressure, the trade price of the majority of the crypto assets surging rapidly since beginning of this year.

Read also: SEC charges ex-NBA star Paul Pierce over undisclosed crypto promotion